work out a possible bid. so no bid coming soon. let's move on to some widely held stocks including microsoft down a quarter. cisco systems up 20 cents. johnson & johnson at 70.60 down 15. >> michael has been with us all week. what are you watching? >> i'm watching what's happening with jobs numbers. that's what's going to drive the market. in the end, that's the key issue. >> michael, thanks for a great week. >> my pleasure. >> we appreciate it. have a good weekend, everybody. ty, i'll see you back at the ranch. that does it for us on "power lunch." >> and street sentencstences -- "street sense" begins right now. we begin the broadcast with a shooting in newtown, connecticut. 90 minutes of new york city. >> all the new details. >> mandy, the shooting happened this morning just after 9:30. that's when police got a 911

call. connecticut state police officials say that on and off duty officers reported to the school. they immediately began a search and an evacuation of the school. the shooter was found on scene deceased inside the building. as you mentioned, 18 children and 8 adults among those killed. the shooter as well also dead. officials tell nbc news a second person is in custody, wanted for questioning with relation to this shooting. officials have not confirmed those numbers saying that they are still notifying next of kin. the white house was notified this morning of the shooting and said like so many parents everywhere today, their hearts go out and they feel enormous, enormous sympathy to what the parents here and this community are going through. >> absolutely. it's completely tragic. thank you very much for the update. we will continue to monitor the

situation as the developments unfold. in the meantime, let's get you up to date with what's happening in the markets. the u.s. markets have been ignoring what's been happening overnight. basically paralyzed by the paralysis in d.c. still we are doing pretty well year to date with the s&p 500 still up 12 percent percent. today the nasdaq is the underperformer. that is due to a big drop in apple. ubs has cut its price target to $700 from $780. apple is down 26%. it hit its record high in september. let's get down to the new york stock exchange. mary, over to you. >> apple's weakness is certainly one of today's themes on wall street along with a lack of direction because of a lack of headlines on the fiscal cliff. as you mentioned, today's economic data, a good reading on industrial production doing little to generate investor's interest today. slumber jay is facing a decline in energy stocks after issuing a

profit warning because of weakness in north america as well as weak demand in europe and such. a lift is happening to steal stocks like u.s. steel and metals and minors. also there's signs of life in energy. earlier it had the capital expenditures forecast for next year in pea body. it is expecting earnings in the first quarter of 2013. that is giving a slight lift to its shares. as we head to the close of today's weak, you should know all of the major indices, dow, s&p and the nasdaq are flat slightly lower. >> mary, thank you very much. meantime, let us dig in a little bit deeper on the apple story. john fort joining us from out west. what's the problem with apple? is this capital gains? china? is it the iphone? >> i don't know, brian.

i think that's -- >> the most honest answer i have heard in a long time, my friend. thank you. >> theory is floetding arou inf around out there. it's driving the stock down to any hint of good news drove the stock up earlier this year. interesting note i want to share from gene munser about the issue in china. lack of lines for the iphone 5 which launched there. he's bullish on the stock. he has a very high price target on it, but he gives some reasons why perhaps we shouldn't read too much into the lack of lines over there. one reason is that it's selling in twice as many locations as the 4s was. another reason, preorders were particularly high compared to the 4s. 300,000 versus 200,000 for the 4s. apple has a reservation system for the 5 that wasn't in place before.

that could act to diminish people's, you know, need to wait online. i also point out and muenster didn't say this, we've seen some activity in the u.s. suggesting that people were buying iphone 5's intending to ship them off to china. there was a story about a woman in a mall trying to buy 16 iphones. apple tried to stop her from doing that. i believe she might have even been arrested in that case, but there have been stories about that sort during each iphone launch. it's possible that that's just accelerating. people are getting iphones in other ways. we'll have to wait until we see the numbers to determine whether the demand for this iphone 5 is that much different. we'll bring in will powers. will, do you think that the stock of apple is going to continue to drop? >> well, good afternoon. first my prayers go out to everybody in connecticut. that's obviously unspeunspeakab. i think as we look at apple it's

catching a falling knife. it's difficult to figure out where the hard bottom is going to be. i think investors will be rewarded from this price point. it doesn't mean it can't go lower first. >> what do you think the problems are then? >> i think it's a number of things that brian and john referenced. clearly there's probably some tax dealings. at the end of the day there's questions around innovation and demand. we think the current quarter is going to stack up very well as you look at numbers. we feel very good about the estimates that we have out there. there are some questions with regard to competition and innovation. i think that's the overriding concern right now. >> you know, will, listen. maybe john's right in saying he doesn't know because there may not be one reason, right? sort of to your point. maybe it is capital gains for some. maybe it's concern of a slowdown for others, right? why do we have to find the one thing? >> well, that's a good question. and i think it is, you know, a bit of death by 1,000 cuts here. i think, you know, you've got,

you know, questions around supplies which i think have largely been answered. you've got questions on tax filings. i think it is all of that. you look at the stock and the way it's acting. there's a lot of fear in the water. normally that's a good buying opportunity. >> this has been the ultimate capital gains. if you bought it a couple of years ago, apple has made many people extremely wealthy. if you do fear cap gains are going up, this would probably be one of the very first stocks you would look to sell, right? >> well, i think that's right. i think clearly that's had some impact. but i think beyond that, you know, as i talk to investors there clearly are concerns with rising competition from samsung and others. the pace of innovation, some of the missed steps that apple has taken on that front, whether it was siri, maps, whatever it might have been. regaining that innovation edge is going to be critical. >> you know what i think is -- >> sorry, john. jump in. >> you know what i think is interesting. you look at apple's, pe,

microsoft, they're not that far off from each other. what does that tell you about what either investors expect or fear is going to happen growth wise? we know that apple is clearly very well positioned in mobile, both with the iphone and with the ipad despite what you might fear about increasing competition from apple, nobody would argue that apple's out of the game. microsoft, however, not feared fairing nearly as well with the surface. still some questions about how effective they'll be in the cloud. i think you've got to consider definitely from an investor's perspective which forward p.e. is off? is it microsoft? too high? is it apple's, too low. they can't both be right. >> that's a good question. the chinese market is the fastest growing market for apple. there's been talk for four years. if they get a deal, will that make all the difference? >> well, it will certainly make a big difference. you know, as you know, it's the biggest carrier in china. by far over 700 million

subscribers. they're estimated already 15 million plus subscribers on the network. it's not like there's any question it opens up a significant opportunity for apple hopefully at some point in year. it has been a long time in the coming. >> will, do you have any more -- china. the journal story about only two people being in line at a beijing store has been making the rounds, right? hedge fund managers sent it to me, etc. there's also the talk that don't read into that because they did a lot of read to buy the phones so if you had a ticket that won or however they did it, you automatically were going to get in. you didn't need to line up unless you had a winning ticket you couldn't get in anyway. >> right. >> what can you tell us about that? is it really that bad? or is it something totally different that blows the image of the two people waiting to get in out of the water? >> that is a difficult image, there's no question about it. obviously that will be something that warrants more monitoring as it goes forward. i think some of the comments

that john made earlier. the preorders have been pretty good. i think the fact that you do have to go online to reserve a phone, not dissimilar from what happened in the states, the supply issues. it does limit the demand for people to stand in line. if you can't get a phone, why stand in line? i think that clearly has played a bigger role here than maybe some of the initial articles suggested. >> absolutely. it's expensive. $850 in china, $650 here. you know, it's expensive for a lot of people in china. we're going to leave it there. thank you very much to will and john. all right. on deck. the charity cliff. will your chart tanl donations be taken away from you if we go past january 1 with no deal? we're going to find out from one of the biggest charities in america coming up.

once again, everybody, this is a live scene. a look in newtown, connecticut, at an elementary school. sandy hook elementary. where nbc news says 18 children, 8 adults, plus the gunman have been killed at one of the worst school shootings in american history. we've heard some comments, john harwood, from jay carney, the white house spokesman sort of talked about it. can we expect an official statement or press conference from the president about this tragedy? >> i think it's likely we'll hear from the president, probably in person, if not in a written statement. what jay carney said on his behalf was that he, like every

parent, expresses enormous sympathy for the tragedy that's going on in connecticut right now. he got questions, of course as always happens in circumstances like this, about his views on gun control and whether he will seek any new legislation. jay carney said it's not the time for politics, it's the time to focus on the victims. that's where it stands at the moment. obviously this is, brian, totally distracted watchishingt attention away from fiscal cliff discussions and news coverage for days. >> john, i have to break in with some more breaking news related to this story. this just coming in, nbc news, the suspect from new jersey and a parent, one parent according to nbc news of the suspect has now been found dead in their home in new jersey. that is all the information we have on that, but a parent of the suspect also found dead in their home in new jersey. >> wow. that's a tragedy. >> it's basically impossible to

go from the story we're talking about to the deal, but that's what we do so we're going to do it, right? this is tough and we know how hard it is today, so let's just do it, right? any progress on the fiscal cliff? >> no signs of it. if there's progress, it's been completely obscured. john boehner went to the white house yesterday afternoon, met with the president for 50 minutes. one of his aids told me as we discussed yesterday on air, that the speaker thought there was a need to shake up the talks but if there was a shakeup, it is completely been kept out of public view because all the signs we have is speaker boehner is headed home for the weekend. there are no talks scheduled for today. that we simply haven't had any movement on the sticking points which, of course, are tax rates from a democratic point of view, spending cuts from the republican point of view, and from both sides the issue of the debt limit which if the republicans give on tax rates will be their remaining leverage on spending cuts and we do not see a way out of this mess at the moment.

i remain optimistic that the fundamentals point towards getting a deal whether it's just before january 1st and those tax rates go up and the automatic spending cuts kick in or just after when members will feel a greater amount of political heat to do that. we certainly don't have signs of a deal right now. >> definitely looks like it. thank you very much, john howard. one of the other things that we've been debating is what will happen to a number of deductions that are out there in any kind of deal that it's finally gotten to. one of them is charitable deductions. stacy stewart, united states president for united way. if we see charitable deductions on the chopping block, this is speaking to the poor, not the rich. >> that's exactly right, mandy. i want to send my thoughts and prayers to those that are affected by this tragedy in newtown. it is difficult to talk about these issues around the fiscal cliff when we have the tragedy. to answer your question, you're right. when we talk about the

charitable deduction you've got to be clear. this is about the funds that are coming from private individuals, middle income and upper income individuals mostly, to benefit those that are most vulnerable in society. those families and those individuals who have been left behind in these tough economic times, those people that are in poverty and those working families that are still struggling to make ends meet. what we are advocating for at united way is to take a balanced approach, an approach that says let's look at revenues, let's look at spending. let's not do it on the backs of those that have been most hurt in these difficult economic times and those families and individuals to me are helped the most. that's always the focus of united way and the charitable organizations that are most affected by the discussions around capping the charitable deductions. >> do you have any idea of how much it might drop? >> our best estimates show that charitable giving could be affected by anywhere from 3 to 5

billion. some of those estimates go as high as 7 to $10 billion of giving that would be lost as a result of capping the deduction, either by a dollar cap or by moving the cap on the deduction to 28% as the obama administration has proposed. what we would say is that if we need to consider a balanced approach and the deduction is being considered. we have to think about the deduction as not a pay for in these times of trying to get our fiscal house in order. at most we ought to be having a very sensible conversation about it and comprehensive tax reform, but certainly the charitable deduction had i has been in place for hundreds of years, it's part of the fabric of the country. it benefits individuals who need help the most. we all agree government cannot solve our problems. why we would reduce the incentive for private citizens to step forward is confusing to us. >> i cannot agree more.

stacy, thank you for bringing that story to us. >> thank you so much, mandy. in the meantime, is the chinese economic resurgence for real and can it keep the yen on the back foot? these are two questions we'll hopefully get answered next on our own mini trading the globe. uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. by december 22nd try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chas

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much ignoring that we got very good news from the chinese manufacturing sector. we have tim seymour going on here. tim, lots of good things going on with the globe. what does that mean? >> it means a lot for natural resource. when you're looking at the global miners, it was always easy to say, hey, they're cheap. if you actually look at historical spot prices, bhp were places i wanted to own these stocks. they got cheaper than that. question was were spot commodity prices going to hold the levels or were they going to stay at $80 on iron ore which was a spike to the low side, 120 and

140 on coke and coal. we're six weeks into a rally on these names. i think china's numbers overnight tell you there's more that's going on. >> for real? >> fantastic recovery. it's not your 2009 recovery but it's one that's sustainable. >> what makes you so confident about that? >> some of that is not only driven by speculators but it's driven by commodity inventories. inventories were overdone. stockpiling needs to continue. when you talk about the bulks, these are sustainable levels. we've risen from 86 to 125 on iron ore. bali is a buy, walter energy is probably a buy. >> do you think the emerging markets will outperform the other markets. we have an emerging market like turkey. >> your headline emerging markets, the bricks really have been the lagers and the we

weaklings. emerging has outperformed even the s&p. people have said we know the u.s. is healthier. emerging markets have done very, very well. i think that trade even being long emerging and short at the u.s. is a trade that will hold you in good stead and something i know we'll talk about tonight. >> too, you look at turkey, 6.5% emerging growth. in china it's 37. indonesia, those countries, egypt, a lot of young people. longer-term opportunity in those areas. >> because of the demographics. brian, you're nailing it. this is the reason why people own turkey. they were scared off by the eu and turkey has its own fiscal policy questions. they've done some pretty innovative, very effective things. they've gotten enflags under control. when you pass that, people want to own turkey. >> that makes me nervous about china longer term. >> why? >> the average age is 37.

>> you're saying the demographic has been overdone? >> it's going to be top heavy. >> you think we've got a bad demographic profile in 20 years. in 20 years all the one children are going to be supporting literally a billion old people. >> then you can fall back on the per capita gdp numbers that are so low. the autos per 1,000 people penetration. the upper levels of energy consumption. >> talking about bad demographics. you have japan in and baby diapers. that's what they say. >> going to the poles thls this weekend, what does it mean? >> in shindeau wants to keep the yen weak. he says -- he has run on 3% gdp growth. he thinks he's going to be successful. >> good luck. >> we've been waiting for a decade on that. if you look around the world, the yen is a currency that its

weakness has been a good sign for risk appetite. if we see the yen weak i think people are going to be grabbing risk. >> before we g i'll tell you what. you know what part of the world people ignore which has been spectacular the last year? africa. >> sure. >> oh, yes. >> uganda, na row be, tanzania. this is emerging frontier markets. >> frontier. >> if you haven't looked at those, maybe you could do this on trading the globe. >> we will. >> they're booming. they're booming. >> we're going to get you involved in this, brian. it's exciting stuff. that is probably the best demographic story. there's ways you can play it in south africa and egypt. they give you the gate way in. telecom names. >> on the ground next week. >> we'll have incredible and emerging frontier markets that need to be told. we will tell them tonight trading the globe. it's the winning trade no one is talking about, emerging markets. the bricks hit next year and how would you play it. plus, the release of the iphone

5 in china. we were just talking about that. we're going to bring you an exclusive interview. so many things coming up tonight on a special edition of trading the globe at 7:30 p.m. eastern. >> i don't like that graphic. >> why? >> see seymour stepping in there. >> you are very protective on this set. it's great. we all know that mandy should be in front of me. who would you rather look at. >> very good point. >> at the end of the day, i can't control these things. i'm not one of the big wigs upstairs. >> he is an innocent bystander. >> you have terrific hair. >> it's very admirable the protection that goes on with your partner. >> yeah. i feel very protected. >> next up, street talk and the surprising stock that is the best performer on the s&p 500 this week. stick around. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core,

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data done differently. okay. this is street talk. first up, we're going to be talking about best buy because it's doing very much the opposite of what i was saying yesterday. >> yesterday it popped on "talk" and the founder richard schultz was going to have a buy bid. today the stock is down. the company is giving him more

time. a source told reuters that schultz zee doesn't have the funding now so they're extending the window at best buy. he doesn't have 4 or $5 billion in cash. maybe some concern he won't be able to put together the financing pretty much giving back everything it gained yesterday. >> i think the deadline has been pushed to the end of february. >> february 28th. >> that's a big window. let's take a look at jcpenney. it's done well over the course of the week. a resurgence in jcpenney. >> i would hardly call this a resurgence. the stock is 10 bucks below my bet please price. that's a lock of the century that i'm going to win that bet. a little more optimism on jcpenney. it's a good thing. you want to see companies do well. hire back employees, whatever. still, stocks up but off a bad base. don't get too excited about this. >> never talk about stuff being

down. >> i would not. i want to see every company do well and employees get rich. >> 100%. exxon mobil. got a downgrade from goldman's. >> goldman sachs lowering exxon from a neutral to a buy. well, it's done well relative to the xle oil etf so it's not as attractive relatively. goldman economists recover on global gdp. by the way, here's your pencil point, folks. the favorite stocks that goldman has in the space, holley frontier, western refining, and north core tech which is nti. three names goldman loves. holley frontier, western refining and north core tech. >> i didn't know people still used pens silts, by the way. >> schlembroge. >> 4.5%. fourth quarter weeker than expected. less drilling activity than

before. impact on profit estimated to be about 5 and 7 cents. i don't know if this is a case for schlumberger. a lot of these companies big in drilling are saying they're having problems in north america finding people and moving rigs fast enough to where they need to go in north dakota. don't know if that's the issue here. we've seen it before. if you're buying stocks on fracking and gas booms, be careful. make sure they have the people and fire power. >> the huge problem is the results of space. commodities are booming. you cannot find the people. >> 150 grand for a welder in the outback in australia. >> truck drivers. actually, i think there was a program to make it easier to get visa's for american people to come to america. anyway, wynn, ubs is cutting this from neutral to a buy. >> this could be a good topic for trading the globe. knocking it down. they say the stock though is

undervalued. fundamentally they like the stock as it is, but there's three reasons for this downgrade. they see no major rebound in the vips, the mccaw, huge gamblers. >> they spend huge amounts of money, the whales. lack of near term catalyst for wynn. >> adobe is the last one. they're higher on earnings. let's finish on a lighter note. we need it today. >> we do. earnings came in 4 cents above estimates, 61 cents above share. greater opg of adobe's cloud. you don't think of them as a cloud competing company with cloud services that are benefitting. stock up 17% over the past three months. the whole flash issue with apple, that fight we've had. doesn't appear to be hurting adobe too much. >> everyone is getting into the cloud. where the growth is. >> the lockup period expires on about 150 million facebook shares. that stock we saw a moment ago is trading lower today.

threats' find out more about this. julia. >> mandy, it's the fourth of facebook's five lockup expirations and the 156 million shares that are available to sell today are owned by investors who also had a chance to sell in the ipo. those shares are off more than 3%, about almost 3.5%, almost 4% today as investors do some profit taking. after the stocks run up 36% after the last lockup expiration when 1.2 billion shares became available to sell. now driving the stocks' rise over the past couple of months is confidence that facebook will make money for its growing mobile users, ecommerce, from its add exchange as well as a surge. it has been hanging over facebook stock. now there's one more small one left. 50 million shares which become available in may. mandy, back over to you. >> thank you very much for that, julia. just ahead we're going to give you more on the developing story of the devastating shooting at an elmin try school in

connecticut. we'll take a look at the markets. there are still people who are watching the markets obviously as well as that story. we're going to talk to art hogan about what is going on out there in the last trading day of the week. also about what's happening with nike. big brands, big story and what it's doing in oregon. stay tuned. health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. they optimized our data center and got us on the cloud. they even sent tour champion, paula creamer, to help with charles' swing. maybe don't do that. that's not good. no! his job isn't to look good. it's to make the clients look good. oh my goodness! i can't help you. that's what i thought.

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>> 17 days until the fiscal cliff. a key republican lawmaker, congressman kathy mcmorris rogers talking about whether her party would be willing to raise taxes if democrats agreed to serious spending cuts. also, are we on the verge of a market meltdown if a deal is not reached in a timely manner. we'll look at both sides of that issue and we'll hear from somebody who says the biggest trouble facing the fed right now is congress, not the fiscal cliff. maria and i will see you at the top of the hour for the the last hour of the trading day. let's get you up to date on the horrific breaking news in connecticut. at least 18 children shot and killed according to reports. let's get more. bertha, tell us about the latest that we know. >> nbc news today officials have confirmed to them the name of the alleged gunman is

24-year-old ryan lanza, a connecticut man. those officials tell nbc news that he apparently had targeted his mother who works at the connecticut elementary school. sandy hook in newtown, connecticut, and had targeted her classroom. his mother is among the 18 people killed. officials tell nbc news that 18 children and 8 adults, a total of 26 victims. according to connecticut state police the gunman was found dead on the scene inside of the building although connecticut state police will not give official fatality numbers because they say the family members continue to be notified. governor malloy of connecticut has been speaking with those families and we are now told he will hold a briefing at 3:30 this afternoon. nbc news also reporting earlier that a second person appears to be in custody apparently in connection with the shooting but

as you can tell, folks, a lot of these details continue to evolve. we will have another update at the top of the hour. back to you. all right, bertha, thank you very much. let's bring in former fbi profiler mary ellen o'toole. mary ellen, welcome to the program on a very, very difficult day for newtown, connecticut, for the united states, for every parent out there. what do we know for the little that we know about the suspect? what can you deduce? >> well, from what i've heard so far, and it seems like it's changing every couple of minutes, is that the mother of this shooter was working or was an employee at the school. it's still a little confusing to me. i understand that she is also deceased. and what i'm hearing is that she was found at the school. so if that fact pattern is correct, that her son is the shooter, then what makes sense

is that this really did start off as a familial problem, a dispute likely between the mother and the son, and it certainly escalated to unbelievable proportions. what they've been looking at right now is if that, in fact, is the case they would be looking for evidence of that search warrant and in the background that they are developing on both the mother and the shooter. >> mary ellen, we understand that a lot of the schools across the district have gone into lockdown mode as a precautionary measure. to what extent does this kind of event copy cat? >> boy, i'll tell you something, that is a big, big concern for me, and i've been talking about the copy cat effect for many years. and we know that there are people out there right now who are watching the news reports of this horrific shooting and they are thinking about doing the

same thing. this does not put the thoughts in their head. the thoughts are already there, but there are other people out there, we don't know who they are, who are already thinking about, well, you know what, this is how i'm going to handle my problems, whatever those problems might be. now they're getting more of a reinforcement to carry out their own shooting and that is a major concern in the world i work in. >> i'm just realizing going through, mary ellen, that assuming that the suspect is, indeed, the shooter, ryan lanza reported to be 24 years old, the guy who did the shooting in arizona, jared loughner was 24, the killer, james holmes in auro aurora, colorado, 24. you're a profiler. the first two were loners. the first two, loners, okay? what can we do to figure out how

to greater identify people who potentially are at risk from this type of behavior? just going off the deep end, right? is it the men in their 20s? what is this? they're all 24. >> i just looked this up this week prior to any of this happening just to see if the statistics had changed but the age range for a great deal, high percentage of the violence occurs by males in the age range 15 to 25. so this is not inconsistent with that. that age range is -- those are the men, the young men who are -- if they are going to act out violently, that's the age range. this is consistent with that. >> why would you say that is? is it something chemical? is it something hormonal? is it just youth? is it recklessness? what is it?

>> a combination of all of that. these cases, as horrific as they are, fortunately they're very rare. when you look at something as horrible as this, those words are meaningless coming out of my mouth because it's a horrible way to handle one's problems. we know that there are warning signs that someone is thinking about acting out violently in this way, and what we've tried to do is to put out those warning signs so parents, co-workers, friends may look at those and be able to identify them before the shooting occurs so law enforcement can be brought in before the event. because this is not something that the person thought about doing just this morning. they woke up and decided this is what they're going to do. we call that the snap theory. these people don't just snap. these kinds of crimes are planned over a period of time, and it may not be a long time, but they still are planned events. and it's during that planning

phase that if we know the offender, we look at something, we may know about some of the warning signs, that law enforcement can be notified. and that's the key in these kinds of cases. it's not a snap decision to act out like this. ? thank you so much for that. it was really fascinating information. mary ellen o'toole, former fbi profiler. in the meantime. let's get out to michelle franzen from nbc news who is live on the ground. michelle, if we've got you there, what more have we learned? what can you tell us? >> reporter: hi, mandy. we're about two miles away from the school location which is where they are relocating all of the media, which is where they're holding the press briefings. in this past hour and a half we have learned that the governor of connecticut is meeting with those families at this hour, the families that are likely being told about their loved ones, comforting one another in that area. we were told by a spokesperson that that was the governor's

first priority is to be with those families. they did not confirm any numbers here at this press conferences but, of course, we've been getting word all morning from state and federal officials that the numbers are great. as many as 26 in all killed, 18 that could be children. that, of course, being reported from our own pete williams. and you've also learned more about the shooter in this past hour, that it appears that his relationship to this school was his mom who had taught possibly a kindergarten class at the school and that that is who he possibly could have been targeting at that time when he entered the school all dressed in black. the scene right now throughout this community, of course, is shock, sadness just now setting into this community. they are beginning to react though, beginning to circle the wagons as we speak holding prayer vigils, comforting one another. and, of course, there are countless other families who rushed to the scene reunited with their children this morning

and the parents who were told to wait over here learning different circumstances about their kids. but the backgrounds on this community, new england town, about 26, 27,000 people. we can all relate whether we're parents or not, just the tragedy, the tragic circumstances here. the sadness of an event like this. we've heard about shootings all across the country over the decade but, of course, this is involving some of the youngest. >> michelle, sorry to jump in on you like that but we did want to update our viewers that the president will be making remarks. we're just hearing from the white house. at 3:15 p.m. eastern time president obama will address the nation about this shooting at sandy hill elementary. the president will be coming out with more. you're there. it is an incredibly chaotic scene that's going on. we're both parents on this set.

it's striking parents today. we'd like to be at our school. have you had a chance to speak with many people about their feelings, generally about school security, whatever it might be? it's impossible to formulate a smart question today? >> reporter: right. exactly. what we have heard and the information, i have not spoken to any parents directly. what we have heard is what's been unfolding. we've had producers on the scene. you've seen the visuals of the parents running up the hill, some of them being reunited with their kids. we can all imagine the circumstances and the feelings involved. you mentioned a chaotic scene but there's unfortunately also some organized chaos here, and that is because we trained for this or law enforcement trains for this. school officials train for this now, the possibility. >> michelle, isn't that one of the tragedies unto itself, that we have to train for this? somebody noted earlier today that i thought which is a genius

remark which is these types of shootings are no longer random. they're happening too regularly to be random. >> well, they're happening often enough where it's sort of become the fabric where it's certainly become the likelihood. the likelihood is small. we also prepare for that possibility given the events that have happened around the country in the last few decades. we mentioned time, you know, when law enforcement rushed in, you heard about what some of those teachers were doing, the one gym teacher who had -- who knew exactly what to do to get the children into one area of relative safety at that time, and we're also hearing very heroic stories of those teachers and they knew what to do and know what to prepare for. they know this already.

we're going to hear some more of those stories as it comes out. >> absolutely. >> reporter: but certainly this really, you know, any shooting tugs at us. >> terrible. >> reporter: but knowing that this involved some of the youngest of students i think really brings a new element to this. >> it certainly does. when we see the worst in people, it often brings out the best in people. thank you very much for that update. once again to reiterate, the president will be making an official statement at 3:15 p.m. eastern time this afternoon. i know that the white house already says now is not the time, but there will be a time later to discuss the policy implications as well of this devastating event. >> let's give you a quick update on the markets. again, folks, no way to sound smart on a day like today. you want to hug your kids and move on. that's what the markets are doing, the dow is down 20 points. the apple slide continues to be the market story. the s&p and nasdaq are also lower today. we'll go to a quick break. more on the markets and more on our continued coverage of what

is happening in newtown, connecticut. thoughts and prayers to everybody out there. we're back right after this. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance.

let us turn back to the markets here on this friday. art hogan, managing director at

lazard capital markets. no way to sound smart or good. we're just going to do it because that's what we do. what do we do with our investments for the rest of the year? >> we're in a tricky situation. stuck in a range of 1375 to 1425, you know. there's a 25% chance that common sense will break out in washington and we actually get something accomplished before the end of the year. if that's the case, i think there's significant upside to the upper end of the range. there's a better than 50/50 chance we don't get something done before the end of the year whereas we break the bottom of the range. if you're an investor sitting on the sidelines or trying to figure out what to do at this point in time, the sidelines is a very good place to be. very dangerous and very binary. >> 50/50 chance, doesn't seem worth risk. thanks very much. >> well, if you do not think taxes are a big issue in the corporate world then pay attention for a couple of minutes because we have a state that brought back everybody from vacation just to make one company happy.

brian schactman has that story. >> reporter: hey, thank you very much. listen, nike is a pretty iconic brand in the country and totally attached to the state of oregon, right? well, they want to expand, and there's all these states looking to poach them. they went to the state of oregon and the governor and said, listen, if you don't give us some tax certainty we're going to be a free agent here so the governor said, listen, we'll call a special session and we'll pass this piece of legislation that says any company, nike, that within five years, hires 500 new people and invests $150 million, gets to keep their tax status. the key is something called the single sales factor which says their only tax is based on the sales in the state. nike has small sales relative to global sales n.oregon it's sales property and, of course, payroll taxes that it's based on so this is a sweet deal for them, and they don't want to lose the company so this is what a state does, and it's a question of whether it's valuable to let

nike pay almost no taxes to keep the business in the state so it looks like we're going to expand in oregon. >> absolutely. like thousands of jobs direct and indirect hanging in the balance. brian schactman, thanks very much for that. a quick check of what's happening for the market. we are moving to the downside, and this is despite the fact that we got good manufacturing data from here and good manufacturing data from the chinese market as well. going to take a very quick break. we'll be back in a couple minutes time. ♪ [ male announcer ] 'tis the season to discover the kid in all of us.

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